Orient Technologies Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32

Fund Raising View source PDF Explain this filing

ORIENTTECH · price

Loading chart…

▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reactionminutes from the announcement price · days from the prior close

-3.6%Reaction day

₹337.70

prior close

₹322.80

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used+0.8%-4.4% vs market

IT Enabled Services peers, median of 58sector+0.7%-4.4% vs sector

On the reaction day the stock moved 4.4 pts less than Nifty Microcap 250 and 4.4 pts less than its IT Enabled Services peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

-0.3

10m

+0.3

15m

+2.2

30m

+0.8

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-3.6+0.8-4.4+0.7-4.4

Next day

-2.8+2.0-4.8+0.9-3.7

-4.5+0.9-5.4+0.6-5.1

-5.0+1.7-6.7+1.3-6.3

-5.2+1.6-6.7+0.2-5.4

-9.9+2.2-12.2+0.7-10.7

-11.0+2.7-13.7+0.5-11.5

15d

-4.7+4.5-9.3-1.7-3.0

-8.2+5.6-13.8-0.7-7.5

-8.5+9.0-17.4+1.8-10.2

-16.8+3.5-20.4-0.1-16.7

UpDownMarket · Nifty Microcap 250Sector · IT Enabled Services peers, median of 58Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Orient Technologies Limited has disclosed a minor deviation in the use of proceeds from its August 2024 IPO. The company raised Rs. 214.76 crore (Rs. 120 crore fresh issue with net proceeds of Rs. 107.93 crore, plus Rs. 94.76 crore offer for sale). The deviation is small — just Rs. 0.04 crore (Rs. 4 lakh) — caused by the company paying certain vendors including GST, whereas the prospectus had specified that issue expenses would be paid excluding GST. Utilization during Q4 FY25 was Rs. 10.25 crore for office premises in Navi Mumbai, Rs. 16.00 crore for general corporate purposes, and Rs. 7.65 crore for issue expenses. Notably, the large Rs. 79.65 crore earmarked for capital expenditure has not been spent yet. The audit committee and board have noted the deviation and plan to adjust future reimbursements to offset the excess GST paid.

Likely market impact

The deviation is immaterial (Rs. 4 lakh out of Rs. 120 crore fresh issue) and is being self-corrected by the company, so it is unlikely to affect shareholders or the stock price. However, the zero utilization of the Rs. 79.65 crore allocated for capital expenditure is worth watching, as delayed deployment of IPO funds could draw investor scrutiny over time.